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Independent Analyst
We discussed yesterday that the Miners are in their timing band for a daily and intermediate cycle low. And what we wanted to see was a narrow range bullish reversal to ease the parameters for forming a swing low. And the Miners delivered.
Wednesday's narrow range bullish candle sets the Miners up for a low risk entry. A break above 20.80 will form a swing low to signal a new daily cycle. Stops can be placed below Wednesday's low. Then a break above the declining trend line will confirm the new daily cycle.
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